FEBRUARY BULLETIN

Step inside Seima – Australia's home to Euro-inspired bathroom, laundry and kitchen ware – and meet the man who helped build it. 

CEO's Report

It seems more Scholars decided to take a clean electronic communication and work-free break during the festive season; I certainly did and found it very refreshing. For those of you who didn't, I do hope you enjoyed a sufficient rest and are ready for a year of high achievement, despite the many challenges that already exist. Since the last bulletin, the new IT system replacement project has commenced, Phil Morton was appointed by the Board sub-committee to find a replacement CEO, the application system was overhauled, and Suzi and I cleared a backlog of admin work.

Out and About

• Suzi and I attended the ILF Board Christmas dinner at Stamps in Mitcham. Members of the Board work very hard during the year and this is the traditional time to thank them for that work and their partners for allowing them to do so. Most Board members brought at least one bottle of their favourite wine which made for an interesting variety of flavours, styles and vintages. Very tempting to try as much as possible! With my health issues I had to resist almost all temptations which was a challenge, but the reward came the next day when my head felt as clear as a bell, unlike some others. This was followed the next week by the ILF Scholars Christmas breakup function, which is reported separately in this edition.
• Emilio De Stefano (ILF2014), Suzi and I met with DMAW Lawyers and the presenters of next week's cyber security event.
• Emilio, Suzi and I met with Emma Kittel, Marketing Manager at William Buck, to discuss their very generous offer to sponsor the 3 April ILF Showcase. Subsequently we met with Kate Harding, National Events Lead, and Kieran McCann, Chief Marketing Officer, at Lumination to discuss arrangements for them to host the showcase. It is set be a truly 'luminous' event.
• I met with Shaun Westcott (ILF2018) to discuss expectations as he begins chairmanship of the Scholars Committee this week.
• Chantale Millard (ILF2017) and I met with Iain Kemp to plan the June training day. It will focus on how to maximise the value of your business to improve negotiating power if you are making an acquisition, selling or borrowing. Presentations will be modelled on the strategy and culture days facilitated by Anthony Kittel (ILF2010) and Andrew Downs (ILF2013).
• I attended and addressed an information session about the University of Adelaide Transformative Leadership Program.  
• Finally, I attended the CEO Institute SA Summit as a guest of Paul Preiss. It is offered to members of the CEO Institute including seven Scholars who were there, and I was lucky enough to be included among a small group of selected guests. The topics were diverse, relevant, informative and inspirational. The first speaker, Matthew Michalewicz, CEO of Complexica and a board member of numerous IT companies, explained that investing in oneself as a leader through education is the best investment anyone can make; a strong endorsement of what the ILF and our Scholars are about.  

Beyond Business  

• We celebrated grandson Noah’s birthday at a family party at his house the afternoon after I was discharged from Calvary.
• I had a follow up visit with the cardiologist and commenced a cardio rehab program which consists of a series of lectures about diet, exercise, mental attitude as well as a program of exercises and physical tests so I can keep fit without pushing too hard.
• Lisa and I flew daughter Ally, her husband Peter with Noah and Jilliana to Melbourne late on Christmas Day, where we stayed for three nights in the Cold Logic house at Essendon North thanks to Eddie Lane (ILF2012). In Adelaide, all six of us were allowed into the Qantas Club on my membership as a Christmas present. Who said Qantas hasn't got a heart? We then travelled north to Albury by train where we stayed with family friends for two nights before flying home on a QantasLink bombardier aircraft with very friendly service. While in Albury, we hired a large people mover and Ally drove us around Lake Hume, which is huge when it 99% full, and across the picturesque three-car capacity Wymah ferry (see image below). The roads are windy and narrow, and the car's in-built sensor made regular beeps because, as Peter explained, Ally was too close to the centre line. After five minutes Noah was heard to say: “mum, I think the car is trying to tell you that you are not a good driver".
• Lisa and I drove to Yorke Peninsula to stay with friends for the New Year. We had a lovely dinner in the Dalrymple Hotel at Stansbury with our hosts. We returned the next day to buy fresh prawns from B A Fisheries and oysters, shucked while we waited, from Pacific Estate Oysters. The quality and price of Stansbury seafood is exceptional. It turned out to be a great way to say thanks to our hosts for a wonderful week in a beautiful part of the world.
• We spent three nights in Goolwa with son Marcus, his partner Kali and granddaughter Vivienne. We travelled via Mannum, Murray Bridge, Tailem Bend and Wellington to see the floods. The devastation is severe and you have to feel sympathy for those who have lost so much. We dined at the Mannum Club, visited the Goolwa Sunday Market, caught the cockle train to Victor Harbor, had a free lunch at the Crown (they lost our order and refunded it) and caught the horse tram to Granite Island.
• Lisa and I flew to Sydney to mark the birthday of daughter Melissa who is completing a PhD at UNSW. To celebrate we had an excellent dinner at the newly opened Dixson and Sons at the Porter House Hotel in Castlereagh Street. The next day we had lunch at La Hacienda Peruvian Restaurant in Sussex Street. The décor, friendly but chaotic service, food, music, intrusive TV screens and drinks, including pisco sour, Inca Cola and Cerveza, are so authentic we could have been in Lima. I can recommend Dixson for quality and Hacienda for experience. Travelling home on a Qantas A330 we experienced a late departure, freezing cold air conditioning, broken seat pockets and a failed entertainment system, and even spotted peeling paint on the engine outside our window! Seems to be solid evidence supporting the view of a friend that all the recent turnaround issues show Qantas is having to cut back on maintenance to afford Alan Joyce’s annual bonus!
• Jilliana starts secondary school this year and Noah has transferred from Norwood. Lisa and I were invited to attend welcome ceremonies at Mary McKillop for Jill and Rostrevor for Noah. Here they are pictured (bottom right) in their new school uniforms.

My life in the Army

In the last bulletin I explained how I had been unable to avoid being commissioned and how being an army officer had opened the door to the best career opportunity for an economics graduate in my year.

After commissioning I was quickly encouraged to complete exams for promotion to captain and after enjoying the wonderful new “Civi” job for only a short time was promoted to the head office accounting department in Melbourne. The state manager had already moved there and, proving the adage “it is not what you know but who”, made sure I would be welcomed into Melbourne University Regiment (MUR) where I was promptly made captain and given command of the largest company (146 members) in the unit, a job normally reserved for senior majors. These were challenging but fun days. The first women were enlisting in the general duties roles. This meant many changes, not the least of which was the need to dig extra female-only latrines when in the field and to erect hessian modesty screens, not to mention the need to ensure the hormones of all the young army people did not lead to decision failure and undesirable outcomes. Fortunately these women were strong individuals who gave as good or better than the blokes could dish out. There was a severe lack of qualified staff and I selected two new soldiers who had reached the most senior rank in school cadets before enlisting at MUR to act as platoon commanders. I told them I did not expect them to always know what to do but to always know when to ask for help, and I gave them clear, concise high-level orders and let them get on with it. My job was to make sure the members in my company who were mainly recruits learned plenty and did not discharge. These two young leaders were a key ingredient in ensuring there were no discharges and that as the recruits subsequently progressed, they were observed to be well trained. I was counselled by regular army officers that my friendly and understated methods were not up to military leadership expectations. These experiences taught me that if I chose good people, did not micro-manage and trusted them to do a good job, my expectations would likely be exceeded. They also confirmed that subordinates would do a much better job if they respected my leadership style than if they respected the authority my rank entitled me to. 

A lot of training was conducted at the famous Puckapunyal Range, which is home to the armoured (tanks and APCs) corps. Rides on M113 APCs, as pictured above, were common. They were good technology but dusty, hot, smelly, noisy and disorienting. Still preferable to running in a hail of bullets! They have been upgraded and are still in use today; a testament to good design.

This was a golden period. In Adelaide I had been asked to apply my accounting knowledge to audit an officers' mess that was in trouble. A couple of years after I arrived in Melbourne, I was invited to the HQ of the unit that was responsible for audits nationally and was advised they were using my audit report as the best practice teaching template. I was also told that I was the youngest captain ever in the Victorian Army Reserve, and comparisons were being made between me and one of the brightest brigadiers in the state. 

Next month I will explain some of the personal training I received. 

Geoff Vogt

Scholar in the Spotlight

Michael Segredos
Executive Director and Co-Owner, Seima
Blue Ocean Strategy
INSEAD Business School, France, 2017

With a background in IT, Michael Segredos changed channels on his career when he became owner and manager of a supermarket. Liking the taste of being his own boss, he later went on to build a national company specialising in Euro-inspired, Australian-designed bathroom, laundry and kitchen ware.

From computers to supermarkets
"Having studied Information Technology (IT) at university, I started my career in the IT industry. A couple of years into my IT career I was presented with the opportunity to throw myself into business ownership by owning and managing a supermarket. Quite different to IT, nevertheless an opportunity I thought not to be missed! This experience was pivotal in allowing me to learn a broad range of management skills. I sold the business after five years but my ambition to work for myself and to create something new drove me to my next challenge. 

The start of Seima
In late 2003 my brother and I decided that we would start our own business. Having grown up on building sites with an electrician father it seemed the obvious choice to enter the industry in some form, so we ventured into the building supply chain space with the formation of SEIMA. Our focus was to design kitchen, laundry and bathroom ware and to then source and manufacture the product and offer a national distribution capability to service Australia. In August 2004 our first container of products arrived. We have since expanded into every state employing approximately 50 staff. In May 2022 we completed our new head office and national distribution centre in Edinburgh and just last month completed the addition of our Brisbane distribution centre. We now have Australia’s largest plumbing merchants stocking our products and the country’s largest builders, architects and developers specifying our brand."

ILF Scholars Christmas Party

Written by Geoff Vogt

On a cool December afternoon, some 60 Scholars joined sponsor hosts Grant Thornton and ILF Board members to celebrate the end of another gruelling year. They also proved it's never too cold to enjoy quality gelato!

Held at the Croatian Club across the street from Gelista, there was loads of free parking and plenty of room to mingle. We were allocated tickets and went in groups of 10 on the factory tour, which included a taste of a new gingerbread gelato freshly released from the churn; delicious it was. Gelista owner Peter Cox (ILF2013) explained the process and proudly showed off the newly constructed manufacturing facilities and super cold freezer room. No one seemed keen to spend too long in there at that temperature! He explained how the system is very energy efficient, with the heat generated by the cooling system used to warm the pasteurising machine and for washing water etc. Solar panels on the roof help cool the freezer room on hot days when demand is highest. Local ingredients are used where possible, for example strawberries are sourced from Mount Barker and figs from Glen Ewin.

Back at the Croatian Club there were other fabulous gelato flavours on the Gelista cart. There was plenty of good beer, great wine and mineral water as well as some gin which was left over from the showcase event. To keep the food within budget, a decision was made to utilise a grazing table which looked enticing but was found to contain too much cheese and a lack of other protein options. Lesson learned – that won’t happen again!

My observation is that a lot of common connections and potential business leads arose during the networking. On behalf of all of us who enjoyed the evening I offer thanks to Iain Kemp and the Grant Thornton team for their generous sponsorship of the event and to Peter and Cathy Cox and the Gelista team for allowing us to see where they make the good stuff and for generously providing chiller bags containing four different flavoured 570ml jars of gelato for us to take home. What a great bonus for Christmas day.  

From all reports, attendees found the evening well worthwhile. Those who were unable to be part of it missed out on what I thought was a brilliant evening.  Subject to confirmation, we have set aside 11 December, from 5.30 pm to 8pm, for this year’s celebration. Please diarise the date.

Upcoming Events

Cyber Attacks: Demystifying the Great Unknown

Gain practical, cost effective techniques to combat digital enemies in this fast-moving field. You will be able to benchmark the information and protection mechanisms your current advisers are providing, and meet alternate adviser options if you feel you need to diversify. Speakers include:

• Paul Dugan, Principal at DMAW Lawyers
• Neil Slipper, Head of Cyber Security at Comunet
• Briston Talbot, Director at DuncanPowell DEM
• Simon Landrigan, Senior Adviser, Insurance Advisernet
• Alexie Fey (ILF2020), CEO of Comunet.

When: Monday, 13 February, 7am-10am
Where: Lot Fourteen, corner of North Terrace and Frome Rd, Adelaide
A few spots are still available. Please email Suzi to secure your place.

ILFSN Food and Wine Showcase

Back by popular demand, this annual event is a great opportunity for ILF Scholars to showcase their fabulous fare whilst mixing and mingling with fellow Scholars. Expect to enjoy a night of networking over fine food and wine while learning more about the diverse Scholar companies within our network. You'll walk away with new connections, a better understanding of who we can support, and the chance to win some amazing prizes. The event is still a WIP; further details will be released next month.

When:  Monday, 3 April, 6pm-8pm
Where: Lumination, 37 Stirling Street, Thebarton
Sponsor: William Buck​​​​​​​

ILF Info Night

Our annual information night provides the opportunity for prospective candidates to seek advice from education bodies, Scholars and ILF board members on their future course. As an existing ILF Scholar, this is your chance to assist applicants in the often difficult task of choosing their course. It's also one way to give back to the ILF. On the flip side, if it's been some time since you completed your ILF-supported course, our information night is a great opportunity to explore the next instalment of your professional development. Formal invitations will be sent in March; for now please diarise the date.

When: Tuesday, 2 May, 6pm-8pm
Where: Lumination​​​​​​​, 37 Stirling Street, Thebarton

Save the Dates*

• 16 June: Business Value Maximisation – Half Day Training
• 18 August: How businesses succeed in difficult, uncertain times
• 25 September, 5.30pm to 8.30pm: ILF Grant Awards Ceremony
• 23 October: Investing in uncertain times
• 20 November, 5.30pm: Mentoring Launch
• 11 December, 6pm to 8pm: ILFSN Christmas party

*All dates listed above are to be confirmed.

Business in Brief

Best time of day to exercise

We all know a healthy body promotes a healthy mind and allows us to operate at peak capacity, but recent Skidmore College research published in the journal Frontiers in Physiology reveals the ideal time of day to exercise based on your gender and goals. The study suggests that for men, evening exercise lowers blood pressure and the risk of heart disease while for women, exercising in the morning reduces belly fat and blood pressure.

Read the Scimex article.

Supply problems set to worsen

Think supply chain problems are a thing of the past? Think again! This Macks Advisory article says businesses should brace for the unpalatable likelihood that current supply problems won’t diminish in 2023, but may in fact escalate. Factors at play include reduced globalisation, global workforce changes, climate change, and the transition from fossil fuels.

Read the Macks Advisory article.

Cyber-proofing your business

According to Deloitte’s 2023 Global Future of Cyber survey of 1000 global leaders, 91 per cent of respondents reported at least one cyber incident in the past year. Based on the findings, Deloitte risk advisory partner Ian Blatchford outlines five areas of focus for refining your cyber ecosystems:

• actively engage your entire organisation in activities that spread cyber awareness through the workforce
• place cyber security at the forefront of digital transformations
• develop an incident response plan, an operational and strategic plan to defend against cyber threats, and a data protection plan
• attract and retain skilled workers with cyber capabilities
• recognise that application security, data protection and privacy means relying on an extended ecosystem from third-party vendors.

Read The Australian article.

A suggested path to tax reform

This Macks Advisory article outlines a simple solution to tax reform – the single touch payroll system. According to the article, real-time payments for PAYG and GST would reduce compliance problems when it comes to tax time.

Read the Macks Advisory article.

Denying the facts on nuclear

This well-reasoned and researched article by Chris Kenny from The Australian about our energy crisis explains why nuclear should at least be given a fair hearing. He says the great advantage of nuclear, despite considerable capital costs, is reliability, durability (a new plant will last at least 60 years) and the leveraging of existing transmission infrastructure.

Read The Australian article.

Silicon Valley in recession?

With tech giants such as Twitter, Salesforce, Microsoft and Stripe announcing layoffs late last year, Silicon Valley is tightening its belt more than other industries. This short article from Full Stack Economics, a newsletter about the economy, technology and public policy, explains the reasons for Silicon Valley's apparent decline and what it could mean.

Read the Full Stack Economics article.

Scholars in the Media